High momentum stocks to watch for tomorrow!

High momentum stocks to watch for tomorrow!

by 5paisa Research Team Last Updated: Dec 11, 2022 - 08:26 pm 41.1k Views

Looking for stocks that could deliver good returns till tomorrow? Here are the High Momentum stocks to watch for tomorrow selected on a three-factor model.

Many of the time market participants see a stock opening with a gap-up and wish they should have bought this high momentum stock a day before to take advantage of the gap-up move. To fulfil this wish, we have come out with a unique system, which would help us to get the list of candidates that can be probable high momentum stocks for tomorrow.

The high momentum stocks for tomorrow selected are based on a three-factor prudent model. The first important factor for this model is price, the second key factor is the pattern, and last but not least is the combination of momentum with volume. If a stock passes all these filters, it would flash in our system and as a result, it would help traders to spot the high momentum stocks for tomorrow at the right time!

Here are the high momentum stocks for tomorrow.

Avadh Sugar: The stock of Avadh Sugar has surged nearly 10% on Tuesday. The stock is in a strong uptrend and has risen about 24% in just six trading sessions. This trend is supported by rising volumes which validates the bullish nature of the stock. Moreover, the trend indicator ADX is rising which suggests strong momentum of the stock. The RSI is in the super bullish territory and with stock already trading near day’s high, it is expected that the stock will open tomorrow with a gap-up.

NTPC: The stock has gained strong momentum and is up over 5% today. It is also the top gainer among the Nifty 50 pack. The stock is seen making a strong bullish candle with open=low and is backed by huge volume today. It is trading above all key moving averages and RSI, too, supports the bullish claim. With strong price action accompanied by huge volume, the stock is expected to remain bullish for the next day.

Welspun India: The stock has jumped 4.6% in Tuesday’s trading session. It is in an uptrend for quite some time as it has gained about 16% since its prior swing low. The volume recorded today is greater than the 10-day and 30-day average volume. The technical indicators show that the momentum is likely to continue. With the stock already trading near day’s high, the scrip will trade higher tomorrow.

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